What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Bank Offers Loans Below 4%
By woodleywonderworks
That headline is not an early April Fool’s joke. Banner Bank is hoping to jump start sales for builders in the Pacific Northwest by offering mortgages to new homebuyers at less than 4 percent, according to Inman.
The bank started offering the low rates through an Oregon subsidiary in early March, and plans to extend the program in April to Seattle, Spokane and Boise, Idaho.
Here are the specifics. The program is called the Great Northwest Home Rush, and eligible borrowers (those with good credit and 20 percent down payments) can qualify for 30-year fixed-rate loans with a “note rate” of 3.875 percent.
So, what’s the catch? From Inman:
“Loans are available only for properties purchased from a list of several hundred homes and lots developed by about 75 builders who have millions in outstanding loans with Banner. The list includes homes and lots in Redmond and Vancouver, Wash., and several cities in Oregon including Beaverton, Bend and Portland.”
What are the lowest rates you’ve seen advertised in the DC area? Let us know in the comments section.
This article originally published at https://dc.urbanturf.com/articles/blog/bank_offers_loans_below_4/673.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro